Base metal prices on the Shanghai Futures Exchange (SHFE) mostly increased on Thursday on rising optimism about China's economic outlook.

China's National Development and Reform Commission (NDRC) said on 2 July that the country has finalised the key national projects for 2025, with total investment amounting to 800bn yuan ($112bn). China is looking to boost investment and consumption through initiatives such as equipment upgrades and trade-in programmes.

The SHFE August nickel contract rose by the biggest proportion today, gaining by 0.5pc to Yn121,790/t, while the zinc and lead contracts both climbed by 0.4pc to Yn22,325/t and Yn17,245/t, respectively.

August aluminium prices stood at Yn20,680/t today, up by 0.2pc from the previous close. Copper and tin prices were largely flat at Yn80,560/t and Yn268,420/t, respectively.